'It could take at least a couple of years for his case to go through the entire run of the British judiciary.'
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
Mallya, who flew out of India in March 2016, has been living in the United Kingdom since then.
The judge, during arguments, said it was "blindingly obvious" that "rules were broken by the bank" and that they had "gone against their own guidelines" in extending a loan to the business tycoon's now defunct Kingfisher Airlines.
He appeared via videolink from the prison as his legal team offered a package of "stringent" bail measures, including bail security of 4 million pound, house arrest with a 24-hour electronic tag as well as a private security guard service and a strictly monitored access to gadgets and telephones.
Investing in special situations can help you tap opportunities that arise during adverse conditions, advises Joydeep Sen.
'It has also saved the government about $ 9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list,' Nilekani said at an event on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
If the absconding jeweller is traced in Britain, the extradition request to the UK government could follow a similar course as the case of embattled liquor tycoon Vijay Mallya
The ED has attached seven sugar mills worth over Rs 1,097 crore in a money laundering case against former Uttar Pradesh BSP MLC Mohammed Iqbal and his family, officials said.
District Judge Marie Mallon said there were substantial grounds to believe that Nirav Modi would fail to surrender if granted bail.
Top officials in key ministries, including finance and IT, are of the opinion that a sensitive payments system such as UPI should not be on a platform whose security is possibly compromised.
Ponzi schemes have characteristics that the informed investor can spot easily.
It was perhaps over-enthusiasm that prompted the Indian investigative agencies to take a private jet to Dominica to bring back fugitive diamantaire Mehul Choksi. Predictably, the eight-member team had to return empty-handed after almost a week-long wait. The agencies were banking too much on the "state-less" status of Mr Choksi, as Antigua, which had given him citizenship in 2017, wasn't willing to take him back. Thus, the calculation was that Mr Choksi would be whisked away from the Dominican courtroom to the waiting plane. The reason for the optimism was also because Antigua is friendly territory for India.
The Financial Intelligence Unit (FIU), the federal economic snoop agency under the Union finance ministry, sent 289 legal requests to its counterparts across the globe during 2018-19 as compared to 177 in 2017-18 and 138 in 2016-17.
Sixty-eight paintings that once belonged to fugitive diamond merchant Nirav Modi will go under the hammer next week.
Modi, 46, who had figured in the Forbes' list of richest Indians, has been named in the cheating case on a complaint from the PNB, which alleged that the jewellery firm owner, his brother, wife and Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss".
Slamming the Union budget as 'insipid' and lacking in stimulus for growth, the Congress on Saturday said it does not address the main issue of unemployment and describes the mindset of the government.
'Make sure your public hospitals work.' 'Don't allow people to go shopping for expensive services; provide them yourself as the government and then charge them very little or nothing at all.'
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
The agency's poor track record in convictions is the only light at the end of a rather long tunnel for the couple, observes Shyamal Majumdar.
Award-winning lawyer, Claire Montgomery, the Queen's Counsel, is likely to fight the Indian government's attempt to extradite him to India.
Delhi's power circles can expect a surprise when a not-so-known officer is appointed to head the CBI.
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
The amendments to the treaty will now be placed before the Swiss Parliament for final approval.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
'I love Vijay. My heart is really broken because I know this is not ideal in the short term for him, but the big picture is really different'
Govt steps up security to check criminals seeking bank details of taxpayers
Be careful if you find your postal mails/ bank and financial statements intercepted, pilfered or tampered with.
Now that you have already downloaded mobile wallets and all set to go cashless/digital with your payments to the local grocer, cabbie, maid, etc, here's what you must watch out for, says Tripti Rai.
Members from parties, including National Democratic Alliance partner Telugu Desam Party, All India Anna Dravida Munnetra Kazhagam and Trinamool Congress, continued their protests on various issues.
The 50-share NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15.
"Well, he never used words like escape or shared with me such a plan like this. However, he did ask me twice if I have ever been to Cuba, he also told me that the next time we may meet in Cuba. He never explained the escape plan but I'm certain that Dominica is not his final destination but if you ask my opinion, I can be more and more certain that Cuba could have been his final destination," Barbara told ANI.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
During his stay in London, he was reportedly living in the heart of the city above his jewellery boutique called "Nirav Modi" on Old Bond Street, which was reportedly closed last week, The Sunday Times reported.
The administration was triggered by Force India's Mexican driver Sergio Perez, supported by engine provider Mercedes and team sponsor BWT who were also owed money by a team struggling financially.
